ON (NYSE:ONON) Price Target Raised to $68.00

ON (NYSE:ONON) had its target price lifted by KeyCorp from $60.00 to $68.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

ONON has been the topic of several other research reports. BTIG Research upgraded ON from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday, November 13th. Stifel Nicolaus increased their target price on shares of ON from $60.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Bank of America began coverage on shares of ON in a research note on Tuesday, January 7th. They set a “buy” rating and a $73.00 price target for the company. Truist Financial increased their price objective on shares of ON from $58.00 to $61.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $64.00 target price on shares of ON in a research report on Wednesday, January 15th. Four research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.73.

ON Price Performance

Shares of NYSE ONON opened at $60.21 on Thursday. ON has a 1-year low of $26.10 and a 1-year high of $60.99. The business’s 50 day moving average is $56.68 and its two-hundred day moving average is $49.60. The stock has a market capitalization of $37.91 billion, a P/E ratio of 140.02, a PEG ratio of 1.19 and a beta of 2.30.

Institutional Trading of ON

A number of hedge funds have recently bought and sold shares of ONON. Private Trust Co. NA bought a new position in shares of ON in the 3rd quarter worth $26,000. Blue Trust Inc. raised its holdings in ON by 319.8% in the third quarter. Blue Trust Inc. now owns 529 shares of the company’s stock worth $27,000 after purchasing an additional 403 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in shares of ON by 210.5% during the third quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 590 shares of the company’s stock valued at $28,000 after buying an additional 400 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of ON in the 3rd quarter valued at about $29,000. Finally, Quarry LP bought a new stake in shares of ON in the 2nd quarter valued at about $32,000. Hedge funds and other institutional investors own 36.39% of the company’s stock.

ON Company Profile

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.